Susquehanna Fundamental Investments LLC raised its position in Astec Industries, Inc. (NASDAQ:ASTE – Free Report) by 127.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,343 shares of the industrial products company’s stock after acquiring an additional 15,885 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Astec Industries were worth $1,734,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Astec Industries during the second quarter worth about $212,732,000. UBS Group AG raised its stake in Astec Industries by 47.0% in the fourth quarter. UBS Group AG now owns 83,185 shares of the industrial products company’s stock valued at $3,604,000 after buying an additional 26,588 shares during the period. Easterly Investment Partners LLC raised its stake in Astec Industries by 115.0% in the fourth quarter. Easterly Investment Partners LLC now owns 192,030 shares of the industrial products company’s stock valued at $8,319,000 after buying an additional 102,709 shares during the period. Walleye Capital LLC acquired a new stake in shares of Astec Industries in the first quarter valued at approximately $2,976,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Astec Industries by 2,165.0% in the second quarter. Assenagon Asset Management S.A. now owns 146,796 shares of the industrial products company’s stock valued at $8,982,000 after buying an additional 140,315 shares during the last quarter. 93.16% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on ASTE. Wall Street Zen lowered Astec Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Astec Industries in a report on Tuesday, August 4th. Finally, Zacks Research cut shares of Astec Industries from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.
Astec Industries Price Performance
Astec Industries stock opened at $41.18 on Wednesday. The company has a market capitalization of $947.96 million, a price-to-earnings ratio of 48.45, a PEG ratio of 1.15 and a beta of 1.35. The company has a current ratio of 2.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. Astec Industries, Inc. has a 12 month low of $40.47 and a 12 month high of $65.69. The stock’s 50 day moving average is $51.00 and its 200-day moving average is $53.73.
Astec Industries (NASDAQ:ASTE – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.10). The firm had revenue of $408.10 million for the quarter, compared to analyst estimates of $405.50 million. Astec Industries had a return on equity of 10.26% and a net margin of 1.26%.During the same period in the previous year, the business posted $0.72 earnings per share. Equities research analysts expect that Astec Industries, Inc. will post 3.36 EPS for the current year.
Astec Industries Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 10th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.3%. Astec Industries’s dividend payout ratio (DPR) is currently 61.18%.
Astec Industries Profile
Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.
Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.
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